REGISTERED NUMBER: 02140617 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MYTI MUSSELS LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Chartered certified accountants' report

8

DIRECTORS:

K Mould

V A Mould

S Dingemanse

SECRETARY:

V A Mould

REGISTERED OFFICE:

Port Penrhyn

Bangor

Gwynedd

LL57 4HN

REGISTERED NUMBER:

02140617 (England and Wales)

ACCOUNTANTS:

Fraser Wood Limited

Chartered Certified Accountants

2 Llys Onnen

Ffordd Y Llyn

Parc Menai

Bangor

Gwynedd

LL57 4DF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

390,643

357,761

Investments

6

40

40

390,683

357,801

CURRENT ASSETS

Debtors

7

66,661

1,422,864

Cash at bank

43,054

53,129

109,715

1,475,993

CREDITORS

Amounts falling due within one year

8

(42,969

)

(41,283

)

NET CURRENT ASSETS

66,746

1,434,710

TOTAL ASSETS LESS CURRENT LIABILITIES

457,429

1,792,511

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

457,329

1,792,411

SHAREHOLDERS' FUNDS

457,429

1,792,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

K Mould - Director

S Dingemanse - Director

1.	STATUTORY INFORMATION

Myti Mussels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for the sale of mussels.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

over the primary lease term

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

195,000

AMORTISATION

At 1 January 2024

and 31 December 2024

195,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

691,258

115,870

807,128

Additions

-

40,280

40,280

At 31 December 2024

691,258

156,150

847,408

DEPRECIATION

At 1 January 2024

362,574

86,793

449,367

Charge for year

-

7,398

7,398

At 31 December 2024

362,574

94,191

456,765

NET BOOK VALUE

At 31 December 2024

328,684

61,959

390,643

At 31 December 2023

328,684

29,077

357,761

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

40

NET BOOK VALUE

At 31 December 2024

40

At 31 December 2023

40

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

22,800

-

Amounts owed by participating interests

-

1,364,098

Other debtors

43,861

58,766

66,661

1,422,864

As at 31 December 2024, Crescent Seafoods Limited owed the company £nil (2023: £1,364,098). Crescent Seafoods Limited is a 50% shareholder in the company. The balance in the prior year related to an intercompany loan which was fully settled during the year.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

4,781

5,619

Amounts owed to participating interests

19,933

-

Taxation and social security

2,366

438

Other creditors

15,889

35,226

42,969

41,283

9.	TRANSACTIONS WITH DIRECTORS & PARTICIPATING INTEREST

The directors loans £12,889 (2023: 31.12.23 ) are included in other creditors falling due within one year.

As at 31 December 2024, the company owed Crescent Seafoods Limited £19,933 (2023: £nil). Crescent Seafoods Limited is a 50% shareholder in the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the accounts of Myti Mussels Limited for the year ended 31 December 2024 from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

Fraser Wood Limited

Chartered Certified Accountants

2 Llys Onnen

Ffordd Y Llyn

Parc Menai

Bangor

Gwynedd

LL57 4DF

16 September 2025